Revision under Section 263 upheld for unexamined ECB interest capitalization but set aside on plausible views and roving TDS inquiries.
Revision under Section 263 upheld for unexamined ECB interest capitalization but set aside on plausible views and roving TDS inquiries. Issue Whether PCIT properly exercised revisionary power under Section 263 regarding capitalization of ECB interest where the Assessing Officer (AO) conducted no inquiry into the actual utilization of borrowed funds. Whether PCIT’s direction to verify… Read More »